Good Morning!
Market Recap
The NSE Nifty index ended in green, above the important mark of 25,650. Gains in the index were led by InterGlobe Aviation Ltd. and Mahindra & Mahindra Ltd. The Nifty Midcap also ends in green, up 0.5%. Gains in the Nifty Midcap index were led by Vodafone Idea and Bharat Forge.
US Market Wrap
Wall Street’s bets that the largest shutdown in US history is soon coming to an end drove a rebound in stocks encouraging optimism that access to official economic data will shed light on the Federal Reserve outlook. The S&P 500 erased losses, with about 345 shares gaining.
The Dow Jones Industrial Average climbed 1.2%. FedEx Corp. jumped over 5% as it expects profit this quarter to improve from a year ago. Nvidia Corp. sank 3% as SoftBank Group Corp. sold its entire stake in the chipmaker for $5.83 billion to help bankroll artificial-intelligence investments, reports Bloomberg.
Asian Market Wrap
Asian markets showed broad gains, with the TOPIX Index leading the way, surging 1.06%. Mainland China’s CSI 300 Index dropped by 0.91%.
Both the Nikkei 225 (+0.20%) and the Hang Seng Index (+0.18%) posted modest increases, contributing to a slight overall rise of 0.03% for the MSCI AC Asia Pacific benchmark.
Commodity Check
Consolidating three days of gains, gold edged higher as traders weighed weak jobs data and the imminent restart of the US government. Bullion rose to around $4,140 an ounce. Gold rose 0.4% to $4,142.81 an ounce as of 8:19 a.m. Singapore time. Silver, platinum and palladium edged higher, reports Bloomberg.
Oil steadied after a three-day gain ahead of reports that will throw light on how the global crude market balances into 2026.vWest Texas Intermediate held near $61 a barrel, after rising 1.5% on Tuesday, while global benchmark Brent closed above $65, reports Bloomberg.
The benchmark three-month copper price is $10,827 a ton, up 0.29%.
Key Events To Watch
Govt to release monthly consumer price inflation data
RBI will conduct T-bill auctions
External Affairs Minister S. Jaishankar will visit Canada to participate in the G7 Foreign Ministers’ Meeting.
Earnings Post Market Hours
PI INDUSTRIES (Cons, YoY)
Revenue down 15.7% at Rs 1,872 crore vs Rs 2,221 crore
Ebitda down 13.8% at Rs 541 crore vs Rs 628 crore
Margin at 28.9% vs 28.3%
Net Profit down 19.5% at Rs 409 crore vs Rs 508 crore
IOL CHEMICALS (Cons, YoY)
Revenue up 8% at Rs 568 crore vs Rs 526 crore
Ebitda up 37.3% at Rs 57 crore vs Rs 41.5 crore
Margin at 10% vs 7.9%
Net Profit up 56.5% at Rs 30 crore vs Rs 19.2 crore
AWFIS SPACE (Cons, YoY)
Revenue up 25.5% at Rs 367 crore vs Rs 292 crore
Ebitda up 32.1% at Rs 132 crore vs Rs 100 crore
Margin at 36% vs 34.2%
Net Profit down 58.8% at Rs 15.9 crore vs Rs 38.6 crore
ZAGGLE PREPAID (Cons, QoQ)
Revenue up 30.2% at Rs 432 crore vs Rs 332 crore
EBIT up 56% at Rs 36.5 crore vs Rs 23.4 crore
Margin at 8.4% vs 7.1%
Net Profit up 33.7% at Rs 34.9 crore vs Rs 26.1 crore
GODREJ INDUSTRIES (Cons, YoY)
Revenue up 4.7% at Rs 5,032 crore vs Rs 4,805 crore
Ebitda down 76.7% at Rs 134 crore vs Rs 575 crore
Margin at 2.7% vs 12%
Net Profit down 15.7% at Rs 243 crore vs Rs 288 crore
GUJARAT FLUOROCHEMICALS (Cons, YoY)
Revenue up 1.9% at Rs 1,210 crore vs Rs 1,188 crore
Ebitda up 23.4% at Rs 364 crore vs Rs 295 crore
Margin at 30.1% vs 24.8%
Net Profit up 47.9% at Rs 179 crore vs Rs 121 crore
UNICOMMERCE ESOLUTIONS (Cons, QoQ)
Revenue up 14.5% at Rs 51.4 crore vs Rs 44.9 crore
EBIT up 63.6% at Rs 7.2 crore vs Rs 4.4 crore
Margin at 14% vs 9.8%
Net Profit up 46.2% at Rs 5.7 crore vs Rs 3.9 crore
TORRENT POWER (Cons, YoY)
Revenue up 9.8% at Rs 7,876 crore vs Rs 7,176 crore
Ebitda up 24.7% at Rs 1,506 crore vs Rs 1,207 crore
Margin at 19.1% vs 16.8%
Net Profit up 50.5% at Rs 724 crore vs Rs 481 crore
AAVAS FINANCIERS (YoY)
Calculated NII up 19% at Rs 288 crore vs Rs 242 crore
Net Profit up 10.8% at Rs 164 crore vs Rs 148 crore
HINDWARE HOME (Cons, YoY)
Revenue up 7.4% at Rs 676 crore vs Rs 630 crore
Ebitda up 89.9% at Rs 56.4 crore vs Rs 29.7 crore
Margin at 8.3% vs 4.7%
Net Profit at Rs 4.9 crore vs Loss of Rs 15.6 crore
PRECISION CAMSHAFTS (Cons, YoY)
Revenue down 12% at Rs 198 crore vs Rs 225 crore
Ebitda down 42.4% at Rs 13.1 crore vs Rs 22.8 crore
Margin at 6.6% vs 10.1%
Net Profit up 56.7% at Rs 13.2 crore vs Rs 8.4 crore
JB CHEMICALS (Cons, YoY)
Revenue up 8.4% at Rs 1,085 crore vs Rs 1,001 crore
Ebitda up 14.5% at Rs 310 crore vs Rs 271 crore
Margin at 28.5% vs 27%
Net Profit up 19.1% at Rs 208 crore vs Rs 175 crore
KOLTE-PATIL (Cons, YoY)
Revenue down 55% at Rs 139 crore vs Rs 308 crore
Ebitda loss of Rs 37.2 crore vs profit of Rs 16.1 crore
Net Loss at Rs 10.4 crore vs profit of Rs 9.7 crore
NATIONAL FERTILIZERS (Cons, YoY)
Revenue up 54% at Rs 6,763 crore vs Rs 4,390 crore
Ebitda up 5.9% at Rs 128 crore vs Rs 121 crore
Margin at 1.9% vs 2.8%
Net Loss at Rs 35.8 crore vs profit of Rs 12.1 crore
BIKAJI FOODS (Cons, YoY)
Revenue up 15.9% at Rs 815 crore vs Rs 703 crore
Ebitda up 26% at Rs 113 crore vs Rs 89.5 crore
Margin at 13.8% vs 12.7%
Net Profit up 15.6% at Rs 79.8 crore vs Rs 69 crore
TATA POWER (Cons, YoY)
Revenue down 1% at Rs 15,545 crore vs Rs 15,698 crore
Ebitda down 11.8% at Rs 3,302 crore vs Rs 3,745 crore
Margin at 21.2% vs 23.9%
Net Profit down 0.8% at Rs 919 crore vs Rs 927 crore
THERMAX (Cons, YoY)
Revenue down 5.4% at Rs 2,474 crore vs Rs 2,616 crore
Ebitda down 38.1% at Rs 172 crore vs Rs 278 crore
Margin at 7% vs 10.6%
Net Profit down 39.3% at Rs 120 crore vs Rs 197 crore
MAYUR UNIQUOTERS (Cons, YoY)
Revenue up 15.5% at Rs 240 crore vs Rs 208 crore
Ebitda up 17% at Rs 50.5 crore vs Rs 43.2 crore
Margin at 21% vs 20.7%
Net Profit up 2.4% at Rs 40.8 crore vs Rs 39.8 crore
PC JEWELLER (Cons, YoY)
Revenue up 63.4% at Rs 825 crore vs Rs 505 crore
Ebitda up 107.5% at Rs 178 crore vs Rs 85.8 crore
Margin at 21.5% vs 17%
Net Profit up 17.1% at Rs 210 crore vs Rs 179 crore
KIRLOSKAR OIL (Cons, YoY)
Revenue up 30% at Rs 1,948 crore vs Rs 1,499 crore
Ebitda up 28.5% at Rs 382 crore vs Rs 297 crore
Margin at 19.6% vs 19.8%
Net Profit up 27.4% at Rs 162 crore vs Rs 128 crore
BSE (Cons, QoQ)
Revenue up 11.5% at Rs 1,068 crore vs Rs 958 crore
Ebitda up 10.5% at Rs 691 crore vs Rs 625 crore
Margin at 64.7% vs 65.3%
Net Profit up 3.5% at Rs 558 crore vs Rs 539 crore
GUJARAT STATE PETRONET (Cons, QoQ)
Revenue down 2.4% at Rs 4,008 crore vs Rs 4,107 crore
Ebitda down 14.1% at Rs 621 crore vs Rs 722 crore
Margin at 15.5% vs 17.6%
Net Profit down 17.1% at Rs 261 crore vs Rs 315 crore
ATLANTA ELECTRICALS (Cons, YoY)
Revenue up 17.3% at Rs 317 crore vs Rs 270 crore
Ebitda up 30.7% at Rs 54.8 crore vs Rs 41.9 crore
Margin at 17.3% vs 15.5%
Net Profit down 6.6% at Rs 25.1 crore vs Rs 26.9 crore
CONTAINER CORP (Cons, YoY)
Revenue up 2.9% at Rs 2,355 crore vs Rs 2,288 crore
Ebitda down 1.1% at Rs 576 crore vs Rs 582 crore
Margin at 24.5% vs 25.4%
Net Profit up 3.6% at Rs 379 crore vs Rs 365 crore
GUJARAT STATE PETRONET (Cons, QoQ)
Revenue down 2.4% at Rs 4,008 crore vs Rs 4,107 crore
Ebitda down 14.1% at Rs 621 crore vs Rs 722 crore
Margin at 15.5% vs 17.6%
Net Profit down 17.1% at Rs 261 crore vs Rs 315 crore
EIH (Cons, YoY)
Revenue up 1.5% at Rs 598 crore vs Rs 589 crore
Ebitda down 11.9% at Rs 154 crore vs Rs 175 crore
Margin at 25.7% vs 29.6%
Net Profit down 12.5% at Rs 114 crore vs Rs 130 crore
GUJARAT STATE FERTILISERS (Cons, YoY)
Revenue up 21% at Rs 3,187 crore vs Rs 2,635 crore
Ebitda up 18.7% at Rs 337 crore vs Rs 284 crore
Margin at 10.6% vs 10.8%
Net Profit up 8.7% at Rs 324 crore vs Rs 298 crore
CENTUM ELECTRONICS (Cons, YoY)
Revenue up 11.9% at Rs 291 crore vs Rs 260 crore
Ebitda down 11.9% at Rs 17.7 crore vs Rs 20.1 crore
Margin at 6.1% vs 7.7%
Net Profit at Rs 4.2 crore vs Loss of Rs 0.3 crore
BELRISE INDUSTRIES (Cons, YoY)
Revenue up 13.8% at Rs 2,354 crore vs Rs 2,069 crore
Ebitda up 21.8% at Rs 296 crore vs Rs 243 crore
Margin at 12.6% vs 11.8%
Net Profit up 81.6% at Rs 133 crore vs Rs 73.2 crore
MAX FINANCIAL (Cons, YoY)
Calculated NII up 13.5% at Rs 131 crore vs Rs 115 crore
Net Profit down 96.3% at Rs 4.1 crore vs Rs 113 crore
LANDMARK CARS (Cons, YoY)
Revenue up 33.5% at Rs 1,211 crore vs Rs 907 crore
Ebitda up 4.2% at Rs 54.1 crore vs Rs 51.9 crore
Margin at 4.5% vs 5.7%
Net Profit at Rs 1.1 crore vs Loss of Rs 0.2 crore
RVNL (Cons, YoY)
Revenue up 5.5% at Rs 5,123 crore vs Rs 4,855 crore
Ebitda down 19.9% at Rs 217 crore vs Rs 271 crore
Margin at 4.2% vs 5.6%
Net Profit down 19.7% at Rs 230 crore vs Rs 287 crore
SHARDA MOTOR (Cons, YoY)
Revenue up 10.7% at Rs 787 crore vs Rs 711 crore
Ebitda down 4.2% at Rs 101 crore vs Rs 105 crore
Margin at 12.8% vs 14.8%
Net Profit down 5.1% at Rs 74.7 crore vs Rs 78.7 crore
PTC INDIA (Cons, YoY)
Revenue up 11.7% at Rs 5,459 crore vs Rs 4,885 crore
Ebitda up 18.7% at Rs 275 crore vs Rs 232 crore
Margin at 5% vs 4.8%
Net Profit up 30.8% at Rs 191 crore vs Rs 146 crore
VESUVIUS INDIA (YoY)
Revenue up 23.2% at Rs 547 crore vs Rs 444 crore
Ebitda up 17.5% at Rs 92.9 crore vs Rs 79.1 crore
Margin at 17% vs 17.8%
Net Profit down 10.1% at Rs 61.5 crore vs Rs 68.5 crore
FORTIS HEALTHCARE (Cons, YoY)
Revenue up 17.3% at Rs 2,331 crore vs Rs 1,988 crore
Ebitda up 27.9% at Rs 556 crore vs Rs 435 crore
Margin at 23.9% vs 21.9%
Net Profit up 82.4% at Rs 322 crore vs Rs 176 crore
BIOCON (Cons, YoY)
Revenue up 19.6% at Rs 4,296 crore vs Rs 3,590 crore
Ebitda up 21.9% at Rs 835 crore vs Rs 685 crore
Margin at 19.4% vs 19.1%
Net Profit at Rs 84.5 crore vs Loss of Rs 16 crore
COSMO FIRST (Cons, YoY)
Revenue up 21% at Rs 919 crore vs Rs 759 crore
Ebitda up 19% at Rs 103.14 crore vs Rs 87 crore
Margin at 11.22% vs 11.42%
Net Profit up 2% at Rs 46.89 crore vs Rs 46 crore
ESAF SFB (YoY)
NII down 32% at Rs 364 crore vs Rs 536 crore
Net Loss improved to Rs 115 crore vs Loss of Rs 190 crore
BHARAT RASAYAN (Cons ,YoY)
Revenue down 13% at Rs 286 crore vs Rs 328 crore
Ebitda down 40% at Rs 33 crore vs Rs 55 crore
Margin at 11.55% vs 16.7%
Net Profit down 13% at Rs 28 crore vs Rs 32 crore
ITDC (YoY)
Revenue down 19% at Rs 118.48 crore vs Rs 146.03 crore
Ebitda down 5% at Rs 19.09 crore vs Rs 20.1 crore
Margin at 16.11% vs 13.73%
Net Profit down 27% at Rs 16.47 crore vs Rs 22.55 crore
RELIANCE INFRA (Cons, YoY)
Revenue down 14.1% at Rs 6,235 crore vs Rs 7,259 crore
Ebitda down 35.5% at Rs 1,055 crore vs Rs 1,636 crore
Margin at 16.9% vs 22.5%
Net Profit down 53.2% at Rs 1,911 crore vs Rs 4,083 crore
GOKALDAS EXPORTS (Cons, YoY)
Revenue up 6% at Rs 984 crore vs Rs 929 crore
Ebitda down 7.1% at Rs 64.6 crore vs Rs 69.6 crore
Margin at 6.6% vs 7.5%
Net Profit down 71.3% at Rs 8.1 crore vs Rs 28.2 crore
APEEJAY SURRENDRA (Cons, YoY)
Revenue up 16.8% at Rs 165 crore vs Rs 142 crore
Ebitda up 14.9% at Rs 49 crore vs Rs 42.6 crore
Margin at 29.6% vs 30.1%
Net Profit down 39.4% at Rs 16.2 crore vs Rs 26.8 crore
Earnings for Tomorrow
Asian Paints Ltd, Ashok Leyland Ltd, Hindustan Aeronautics Ltd, Tata Steel Ltd, Prestige Estates Projects Ltd, Pfizer Ltd, Cochin Shipyard Ltd, CARE Ratings Ltd, Deepak Nitrite Ltd, IRCON International Ltd, Indraprastha Gas Ltd, Jyothy Labs Ltd, Lemon Tree Hotels Ltd, Endurance Technologies Ltd, Galaxy Surfactants Ltd, Gujarat Narmada Valley Fertilizers & Chemicals Ltd, Repco Home Finance Ltd, Data Patterns (India) Ltd, Senco Gold Ltd, Varroc Engineering Ltd.
Stocks In News
Bharat Forge: The company’s arm, Kalyani Strategic Systems, has received orders worth over Rs 250 crore from the Defence Ministry for the supply of underwater system
Basf India: The company has signed a share purchase agreement with Clean Max Enviro Energy Solutions to acquire a 26% stake in Clean Max Amalfi.
Firstsource Solutions: The company has invested in AppliedAI to power next-generation enterprise automation
Hexaware Tech: The company has deepened its Google Cloud partnership with the launch of advanced insurance solutions, including two new offerings developed exclusively for Google Cloud.
Shree Renuka: The company’s arm has approved the allotment of shares up to Rs 57.4 crore on a rights basis.
Panacea Biotech: The company has received an order worth nearly Rs 41 crore for the supply of the Easyfive-TT vaccine.
Reliance Power : The company’s arm Reliance NU Energies gets letter of award from SJV for 750 MW / 3000 MWh renewable energy at tariff of Rs 6.74/KWh and Board Approves Seeking Shareholder Nod to Raise Up To $600 Mn Via Bonds
Kolte-Patil : The company announces Atul Bohra resigns as Group CEO
Tata Power: The company proposes to acquire a 40% stake in an SPV for Rs 1,572 crore and also proposes to acquire a stake in an SPV to develop a hydropower project worth nearly Rs 13,100 crore.
Power Grid: The company’s board will meet on Nov.17 to consider raising funds via NCDs.
Premier Explosives: The company has received an order worth Rs 16.4 crore for the supply of commercial explosives.
Hindustan Foods : The company enters business transfer pact with Ashish Industries, Vijay & partners for acquisition of Nashik manufacturing facility
Jsw Cement : The company signs pact to subscribe to 26% stake in JSW Green Energy Fifteen for Rs 21.78 crore.
Belrise Industries : The company approves scheme of amalgamation of arm H-One India with company
One Mobikwik : The company launches forex payments on mobile app in partnership with NPCI Bharat BillPay
Popular Vehicles : The company to extend corporate guarantee in favour of IndusInd Bank for up to Rs 37.5 crore.
Paras Defence : The company gets Rs 35.7 crore order from Defence Ministry to supply portable counter-drone systems
Cello World : The company to bring back 'Cello' brand for stationery & writing instruments; to acquire trademark from BIC Group
Bajaj Finserv : The company reports Bajaj General Insurance Oct gross direct premium at Rs 1,910 crore; Bajaj Life Insurance Oct total premium at Rs 1,135 crore.
IFCI : The company appoints Chirag Sapra as Chief Financial Officer effective Nov. 11.
Waaree Energies : The company gets order for supply of 360 MW solar modules
Biocon : The company acquires 1.06 crore CCDs of arm Biocon Biologics from Edelweiss Alternative for Rs 300 crore and approves issue of commercial papers up to Rs 550 crore on private placement basis
Trualt Bioenergy : The company enters into joint venture and share purchase pact with Sumitomo Corp to develop commercial CBG plants
Hexaware Tech : The company unable to reach settlement through mediation, evaluating initiation of legal proceedings to recover outstanding amounts from clients.
Sammaan Capital : The company offers to buy NCDs maturing on or before June 30, 2026.
Adani Enterprises : The company to raise funds via rights issue of 13.85 crore shares at Rs 1,800/share.
Federal Bank : The company acquires 3.2 crore shares of Ageas Federal Life from Ageas for Rs 97.4 crore, now holds 30% stake post-acquisition
Fortis Healthcare: IHH Healthcare has completed its Open Offers for Fortis and Fortis Malar, increasing its indirect stake in Fortis to 31.17% and in Malar to 62.73%.
Time Technoplast : The company closes QIP, approves issue price of Rs 201.12/share at 5% discount to floor price of Rs 211.7/share
IPO Offering
Pine Labs: The Company provides point-of-sale (POS) solutions, payment processing, and merchant financing services. The public issue was subscribed to 2.46x times on day 3. The bids were led by qualified institutional investors (4 times), non-institutional investors (0.30 times), retail investors (1.22 times)
Physics Wallah -The company is an edtech offering test preparation courses for various competitive examinations. The public issue was subscribed to 0.07x times on day 1. The bids were led by Qualified institutional investors (0 times), non-institutional investors (0.02 times), retail investors (0.33 times)
Emmvee Photovoltaic Power -The Company is an integrated solar PV module and cell manufacturer. The public issue was subscribed to 0.09x times on day 1. The bids were led by Qualified institutional investors (0.02 times), non-institutional investors (0.06 times), retail investors (0.32 times)
IPO Opening
Tenneco Clean Air India: The company will offer shares for bidding on Wednesday . The price band is set from Rs 378 to Rs 397 per share. The Rs 36,00 crore IPO is entirely an offer for sale .
IPO Listing
Groww: The company offers platform to invest in mutual funds, stocks, F&O, ETFs, IPOs, digital gold, and U.S. stocks. The company's shares will debut on the stock exchange on Wednesday at an issue price of Rs 100 apiece. The Rs 6632 crore IPO was subscribed 17.6 times on its third and final day. The bids were led by institutional investors (14.2 times), retail investors (9.4 times), and QIB’s (22.02 times)
Price Band
Price Band change from 10% to 5%: Niraj Ispat, Tembo Global
Ex -Dividend : Sagility Limited, Global Education , Gujarat Pipavav Port ,Symphony , Kaveri Seed
Demerger: Allcargo Logistics Limited
New listing from Demerger : Tata Motors CV
F&O Cues
Nifty Nov futures is up 0.53 %to 25,811 at a premium of 117 points.
Nifty Nov futures open interest down by 0.04%
Nifty Options 11th Nov Expiry: Maximum Call open interest at 25700 and Maximum Put open interest at 25650.
Securities in Ban : SAIL
Currency Recap
The rupee rose sixteen paise to 88.57 against the US dollar on Tuesday. The yield on the 10-year bond ended two points lower to 6.51.
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